FXParabol Review

FXParabol

FXParabol is one of the newest EAs in the market. Its development is based on a blend of the Parabolic SAR and Bollinger Bands indicators. The system supports the MT4 and MT5 platforms and works with the USDJPY and USDCHF currency pairs. Sadly, we don’t know the company or the people who authored this product. Information on the vendor is missing on the official page. 

FXParabol at a glance

Price$289
Trading platformsMT4/MT5
Currency pairsUSDJPY and USDCHF
StrategyBased on Parabolic SAR and Bollinger Bands indicators
TimeframeN/A
Recommended depositN/A
Recommended leverageN/A
Money managementN/A

FXParabol functionality

The EA mainly works on two currency pairs. The vendor has also incorporated a special drawdown in it to ensure that the drawdown remains low. The EA is compatible with any broker and can work on any account type. By purchasing the tool, you will also get a detailed user manual, qualitative technical support, free updates, and a 30-day money-back guarantee. 

FXParabol trading strategy tests

As we mentioned earlier, this system relies on the Parabolic SAR and Bollinger Bands indicators to trade. In this regard, it uses these indicators concurrently to identify a trend and decide at what point the robot should initiate a trade in the trend direction. As per the vendor, a special mathematical algorithm is integrated to help the system to recover losses made by bad trades. 

Though the devs assure us that the system was tested using 2015 historical data, they don’t present the results. The EA’s past trading outcomes are thus unknown. We cannot tell the number of trades completed, their win rates, and losses and profits generated, among other parameters. 

What about FXParabol live trading results

Live trading statistics on Myfxbook
Live trading statistics on Myfxbook

This account has been around for about one and a half years now. The EA has increased the balance from $1000 to $5468.35 after generating a profit of $4468.35. The monthly gain is 9.86%, while the drawdown is 22.86%. As such, the risk reward ratio is about 2:1. There’s a total gain of 446.83%. 

Trading performance
Trading performance

The robot can remain inactive for days. As you can see above, it holds trades for 10 days on average. The win rates of 78% for long trades and 63% for short trades are not impressive. There’s a profit factor of 2.27 and an average win of 51.26 pips against an average loss of -73.42 pips. This indicates that the robot has a higher likelihood of bringing in more losses than wins for the owner. 

Monthly gains of the system
Monthly gains of the system

The EA was profitable at the beginning of 2021, but its performance began declining towards the end of the year. 

History of trading
History of trading

The system trades dangerously as it works with the grid and martingale approaches. Large lot sizes are used. 

Customer reviews

Customers have not given their opinions about the workability and performance of this EA yet. Probably the trading community has not shown interest in the system. 

FXParabol Review Summary

FXParabol
3 5 0 1
For the 1+ year the robot has run a live account on Myfxbook, it has succeeded in multiplying the deposit substantially. Even so, the trading risks are much higher owing to the grid and martingale strategies being applied. No wonder the account’s risk of ruin has increased with time. In any case, you are at liberty to ask for a refund within 30 days of purchase if you notice the efficiency of the system is below par.
For the 1+ year the robot has run a live account on Myfxbook, it has succeeded in multiplying the deposit substantially. Even so, the trading risks are much higher owing to the grid and martingale strategies being applied. No wonder the account’s risk of ruin has increased with time. In any case, you are at liberty to ask for a refund within 30 days of purchase if you notice the efficiency of the system is below par.
3/5
Total Score
  • Functionality
    3/5 Neutral
    Though the vendor describes the features of the robot, they don’t disclose the timeframe used or the recommended deposit and leverage.
  • Trading strategy
    4/5 Good
    The vendor mentions and describes the strategy the robot uses to trade.
  • Live Results
    3/5 Neutral
    Live results presented are from a verified site, so the data is authentic.
  • Customer Support
    3/5 Neutral
    The devs claim to offer 24/7 customer support, which intimates that they are always available to answer any questions regarding their service.
  • Customer Reviews
    2/5 Bad
    The system has not been reviewed by customers yet, possibly because traders have not begun using it.

The Good

  • Supports both the MT4 and MT5 platforms
  • Strategy used is explained
  • A 30-day money-back guarantee is on offer

The Bad

  • Risky approaches on the board
  • High risk of ruin
  • No backtest report
Total
0
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